TRUSTMF Money Market Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

TRUSTMF Money Market Fund Direct Growth Plan is priced at ₹1,323.5013 as of 16 Sep 2026, with scheme AUM of ₹164 Cr. Its 1-year, 3-year and 5-year returns are 6.47%, 7.16% and 0%, and the scheme carries a Balanced Risk label. In our view, this is a cash-and-short-duration style debt fund that has delivered steady mid-single-digit gains over 1Y and 3Y, while the 5Y figure is not available in a meaningful way because the scheme has not completed five years since launch.

The portfolio is built around certificates of deposit, commercial paper and cash equivalents, which supports a measured profile rather than a high-volatility one. For investors looking for a debt allocation that has been relatively steady in recent periods and does not rely on equity-like swings, the return pattern and holding mix point to a conservative, liquidity-oriented fit.

Quick facts

Particular	Details
NAV	₹1,323.5013 as of 16 Sep 2026
AUM	₹164 Cr
Expense Ratio	0.16%
Launch Date	17 Aug 2022
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Debt
Exit Load	No exit load
Fund Managers	Jalpan Shah, Shradhanjali Panda

The fund is managed by Jalpan Shah and Shradhanjali Panda.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.51%	-4.41%
3M	1.80%	-3.60%
1Y	6.47%	-7.76%
3Y	7.16%	5.74%
5Y	Data not available	Data not available

The short-term pattern has been stable, with the 1-month and 3-month returns staying positive and moving in a narrow band. That usually points to a portfolio that is not chasing large moves, which suits a money-market style debt scheme.

Over 1 year, the fund has held up much better than the benchmark, which posted a negative return in the same period. That gap matters because it suggests the fund has been doing its core job of preserving and compounding capital more effectively than the benchmark used here.

The 3-year figure is also healthy at 7.16%, and it comes with a smoother-looking path than a fund that depends on sharp jumps. The pattern from the return trend is one of gradual compounding rather than dramatic swings, and that is consistent with the short-duration, income-oriented profile of the portfolio.

We would still note that the benchmark itself has been weak over 1 year and 3 months, so the comparison is more useful as a relative read on resilience than as a statement about absolute market conditions. Even so, the fund’s recent behaviour looks steadier than the benchmark and remains broadly aligned with a defensive debt posture.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD TRUSTMF Money Market?

A fund's past returns alone don't tell you whether you should buy it today or continue holding it.

The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.

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Peer comparison

Fund	1Y return	3Y return	5Y return
TRUSTMF Money Market Fund Direct Growth Plan	6.47%	7.16%	Data not available
Union Money Market Fund Direct Growth Plan	6.82%	7.23%	6.48%
Bank of India Money Market Fund Direct Growth Plan	6.70%	Data not available	Data not available
Tata Money Market Fund Direct Growth Plan	6.69%	7.53%	6.84%
LIC MF Money Market Fund Direct Growth Plan	6.69%	6.81%	Data not available
Bandhan Money Market Fund Direct Growth Plan	6.68%	7.42%	6.67%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

The current fund’s 1-year return is slightly below the strongest peers in this set, but it remains close to the cluster. Its 3-year return is also a touch behind the better long-run numbers shown by some peers, though not by a wide margin.

The longer-history peers with available figures tend to show somewhat stronger 3-year and 5-year compounding, while this fund’s record is more modest. That said, the short-term comparison still looks orderly rather than weak, so the peer set tells a split story: recent steadiness is acceptable, but the longer-run figures available for peers are somewhat more supportive.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Punjab National Bank (09/02/2027)	Certificate of Deposit	8.86%
TREPS 01-Sep-2026	Cash & Cash Equivalents and Net Assets	8.86%
Kotak Securities Limited (23/02/2027)	Commercial Paper	8.81%
Indian Bank (24/06/2027)	Certificate of Deposit	8.62%
Small Industries Dev Bank of India (14/01/2027)	Certificate of Deposit	5.93%
Bank of Baroda (02/02/2027)	Certificate of Deposit	5.91%
Kotak Mahindra Bank Limited (04/02/2027)	Certificate of Deposit	5.91%
ICICI Bank Limited (12/02/2027)	Certificate of Deposit	5.90%
Canara Bank (26/02/2027)	Certificate of Deposit	5.89%
National Bank for Agriculture and Rural Development (17/02/2027)	Certificate of Deposit	5.89%

The largest holding is 8.86%, which is not especially dominant for a debt fund that focuses on short-term instruments. The next few positions remain close in size, so the book does not depend on one outsized line item to drive results.

Weight falls only gradually from the largest position to the tenth, moving from 8.86% to 5.89%. That suggests the disclosed holdings are fairly tightly grouped, with several positions likely to have similar influence on portfolio behaviour rather than one holding overpowering the rest.

The top 10 holdings together account for approximately 70.58% of the portfolio, and there are 18 disclosed holdings in total. In our view, that points to meaningful concentration in a limited set of short-term debt and cash instruments, but the spread across 18 holdings also leaves room for a broader tail that can contribute to stability.

To see all holdings, visit the TRUSTMF Money Market Fund Direct Growth Plan page

Source data date: as of 16 Sep 2026

Who should invest

This fund suits investors who are comfortable with a debt allocation and can accept a Balanced Risk profile in exchange for relatively steady compounding. The 1-year and 3-year return pattern is useful for investors who want a smoother ride than equity funds, while the benchmark comparison shows that the fund has also held up better than the chosen index over the past year.

The main trade-off is that the return profile is designed for stability, not fast upside. That makes the fund more relevant for short-to-medium holding periods where capital preservation, liquidity and moderate income-style growth matter more than chasing aggressive gains.

Tax and exit load

Holding period	Tax rate	Description
Units held less than 1 year	20%	Short-term capital gains tax
Units held more than 1 year	12.5%	Long-term capital gains tax

Exit load: No exit load.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of TRUSTMF Money Market Fund Direct Growth Plan?
Its NAV is ₹1,323.5013 as of 16 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 6.47%, its 3-year return is 7.16%, and the 5-year return is not available in a meaningful way because the scheme has not completed five years since launch.

How does the fund compare with the benchmark?
It has outperformed the benchmark over 1 year, 3 months and 1 month, while the benchmark’s 1-year figure is negative. Over 3 years, the fund’s return is also ahead of the benchmark return shown here.

How does the fund compare with peer money market funds?
Its recent return is close to the peer cluster, though some peers show somewhat stronger 1-year and longer-term returns. The short-term story is steady, while the longer-term peer history available for some funds looks slightly better.

Is there a minimum SIP amount listed?
No minimum SIP amount is listed here. The scheme does allow SIP investing.

Who manages the fund and what is the exit load?
The fund is managed by Jalpan Shah and Shradhanjali Panda. The exit load is stated as no exit load.

Bottom line

TRUSTMF Money Market Fund Direct Growth Plan has shown a steadier recent pattern than its benchmark and a fair 3-year return track, but its peer set includes some schemes with slightly stronger long-run figures. The fund’s Balanced Risk label, cash-heavy portfolio and close group of short-term holdings make it more suitable for investors who value stability and liquidity over aggressive upside. For a debt sleeve that aims for measured compounding, it looks reasonably consistent rather than standout-fast.

Published on 17 September 2026 at 3:55 PM IST

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RIA disclosure

Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.